Fidelity star manager Anthony Bolton has once again reassured investors the global economy can escape the dreaded double dip.
Bolton, the Fidelity China Special Situations manager, first told investors back in July the global economy could avoid going back into recession and has reiterated this position.
Despite a deterioration in economic prospects over the past couple months, Bolton told a conference in Shanghai earlier today the world "is not going to a double dip", Bloomberg reports.
Fears of a double dip have eased in recent days, as figures out of the US show signs of improvement. Even today, jobless claims unexpectedly fell to 450,000 and producer prices in climbed for a second month.
Back in July, Bolton told IFAonline he predicted a further phase to the bull market as confidence of recovery grows.
"We are returning to a low growth world in the West and not a double dip. I am not expecting economies to go back into reverse," he said.
"From early on I felt we were in a multi-year bull market. Most bull markets are more than one year in my experience. We always were going to have a decent consolidation phase in the bull market and this is what we have seen."
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